Glacier Bancorp, Inc. to Post FY2017 Earnings of $1.58 Per Share, FIG Partners Forecasts (GBCI)
Glacier Bancorp, Inc. (NASDAQ:GBCI) – Stock analysts at FIG Partners cut their FY2017 earnings per share (EPS) estimates for Glacier Bancorp in a research report issued to clients and investors on Friday. FIG Partners analyst T. Coffey now expects that the bank will post earnings per share of $1.58 for the year, down from their previous forecast of $1.81. FIG Partners also issued estimates for Glacier Bancorp’s Q1 2018 earnings at $0.52 EPS.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Glacier Bancorp had a return on equity of 11.48% and a net margin of 27.69%. The business had revenue of $120.00 million for the quarter, compared to the consensus estimate of $121.07 million. TRADEMARK VIOLATION WARNING: “Glacier Bancorp, Inc. to Post FY2017 Earnings of $1.58 Per Share, FIG Partners Forecasts (GBCI)” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/10/23/glacier-bancorp-inc-to-post-fy2017-earnings-of-1-58-per-share-fig-partners-forecasts-gbci.html.
Several other equities research analysts also recently issued reports on the company. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Piper Jaffray Companies set a $38.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a report on Saturday, July 29th. Zacks Investment Research downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.33.
Glacier Bancorp (GBCI) opened at 37.24 on Monday. Glacier Bancorp has a 52-week low of $27.31 and a 52-week high of $38.18. The stock’s 50 day moving average price is $35.61 and its 200-day moving average price is $34.73. The company has a market cap of $2.90 billion, a P/E ratio of 22.57 and a beta of 1.49.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 21st were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, September 20th. This represents a $0.84 annualized dividend and a yield of 2.26%. Glacier Bancorp’s dividend payout ratio (DPR) is 48.84%.
A number of hedge funds and other institutional investors have recently modified their holdings of GBCI. BlackRock Inc. increased its holdings in Glacier Bancorp by 50,940.2% during the 1st quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock worth $327,084,000 after purchasing an additional 9,621,084 shares during the period. Franklin Resources Inc. increased its holdings in Glacier Bancorp by 2,008.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,355,443 shares of the bank’s stock worth $49,623,000 after purchasing an additional 1,291,143 shares during the period. State Street Corp increased its holdings in Glacier Bancorp by 25.8% during the 1st quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock worth $101,899,000 after purchasing an additional 615,216 shares during the period. Denver Investment Advisors LLC purchased a new stake in Glacier Bancorp during the 2nd quarter worth about $18,631,000. Finally, Koch Industries Inc. increased its holdings in Glacier Bancorp by 6,383.5% during the 2nd quarter. Koch Industries Inc. now owns 415,853 shares of the bank’s stock worth $405,000 after purchasing an additional 409,439 shares during the period. Institutional investors own 80.86% of the company’s stock.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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